tax base

noun

: the wealth (such as real estate or income) within a jurisdiction that is liable to taxation

Examples of tax base in a Sentence

an area with a large tax base

Recent Examples on the Web

Broadening the Social Security tax base ensures that all forms of income contribute to the system, reflecting the changing nature of wealth in the U.S. economy. —Teresa Ghilarducci, Forbes, 21 Oct. 2024

Recent testimony from Richard Nelson, the secretary of the Louisiana Department of Revenue, said that the reform intends to broaden the tax base by eliminating various tax preferences and lowering rates, making Louisiana’s tax system more competitive both nationally and regionally. —Nolan McKendry | The Center Square, Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government, 21 Oct. 2024

Moving overall is at an all-time low around the U.S., but there's been an uptick in state-to-state migration — and that can impact our workforce and tax base. —Sabrina Moreno, Axios, 7 Oct. 2024

All of that would wipe out a big chunk of the tax base. —CBS News, 15 Sep. 2024

Word History

First Known Use

circa 1943, in the meaning defined above

Legal Definition

tax base

noun

1

: a sum (as the total assessed valuation of property in a county) used as the basis of taxation

2

: the source of tax revenue for a governmental body

change the tax base of a school district to reduce the property tax burden